Overview

• Compass plans to acquire Anywhere Real Estate, creating a combined network of about 340,000 agents accounting for roughly 15%–20% of U.S. sales volume, with closing targeted for 2026.
• At the CMLS Open House, MLS leaders said their model must evolve after the NAR commission settlement removed compensation as a core pillar and warned that MLSs must win loyalty by delivering more value.
• Commentary highlighted Compass’s emphasis on off-MLS “exclusive inventory,” arguing it can confine fresh listings to affiliated agents, keep commissions in-house, and raise consumer-access and fairness concerns, with Zenlist cited as a gated example.
• Brokerage veterans flagged integration risks, cultural friction, and uncertainty for Anywhere’s owned offices and franchisees, while independents reported immediate recruiting opportunities as agents weigh stability and brand futures.
• Industry voices predicted intense competition, new consolidation plays, and sustained agent movement, with some noting that scale alone won’t decide winners as execution on recruiting, development, and costs remains decisive.